In 2024, China's commodity imports continued to grow, especially the rising demand for mineral resources, energy products and agricultural products. According to data from the General Administration of Customs, China's imports of commodities, which mainly include iron ore, natural gas and crude oil, rose 10% year-on-year in the first quarter of 2024 to reach US$2.3 trillion. Iron ore imports are expected to reach 1.2 billion tons, firmly ranking as the world's largest importer.
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